Question

Rather than using an institutional loan, a seller extends credit to a buyer and the buyer gives the seller a deed of trust. This would be known as a/an:______

Answer 1

Answer:

The correct solution would be "Purchase money loan ".

Explanation:

• The purchasing money allowance would be granted by that of the producer to the consumer of such the property. This is also considered as financing by the seller as well as by the owner.  
• Those other loans are mostly utilized by borrowers who've had difficulty applying for something like a conventional mortgage leading to negative performance.